Dividend revenue is recognized for trading securities and available for sale securities even if held at FVOCI. Gain on sale is the excess of the net selling price over the cost of the securities sold...

Dividend revenue is recognized for trading securities and available for sale securities even if held at FVOCI.

Gain on sale is the excess of the net selling price over the cost of the securities sold which is reported to profit or loss whether trading or available for sale securities held at FVOCI.

a. Only the first statement is correct.

b. Only the second statement is correct.

c. Both statements are correct.

d. Both statements are incorrect.